According to Libya’s Minister of Oil and Gas, H.E. Mohammed Oun, the country’s crude oil output has risen to 1.2 million barrels per day following the restoration of activity at four of the country’s oilfields, as well as the reopening of ports. In 2022, Libya’s goal is to raise production to over two million bpd.
Libya’s oil output plummeted earlier this month after the National Oil Corporation shut down a critical pipeline for much-needed repairs. The pipeline closure resulted in a 200,000-bpd drop in production. This came on top of the Petroleum Facilities Guard’s most recent field blockade, which began in December and affected four fields and made the NOC declare force majeure on exports.
Libya’s output was reduced to just 780,000 barrels per day as a result of the production interruptions. Despite being a member of OPEC, the country is not a part of the OPEC+ production control agreement.